This unique urban housing concept will take place on the "Premium Outlets" future site, beginning of summer 2013

MONTRÉAL, QUÉBEC--(Marketwire - Feb. 12, 2013) -

Editors' note: Two photos and a video are associated with this press release.

Ray Junior Courtemanche and Daniel Proulx, sole Quebec promoters of the entire residential part of the project located west of the Laurentian Autoroute at exit 28, are pleased to announce the construction of La Cité de Mirabel, an urban development of more than 2,000 residential units, including condos, townhouses and tower houses for retirees. This development will be fully integrated with the "Premium Outlets" complex in Mirabel, which will occupy the same piece of land.

This state-of-the-art residential project of 2.2 million square feet, will generate an economic impact of more than half a billion dollars for the Mirabel area and create approximately 250 direct and indirect jobs over a period of 5 years. Construction of the roads and infrastructures is planned for May 2013, while the construction of the first houses, condos and townhouses is scheduled for June 2013.

La Cité de Mirabel's project is the result of lengthy negotiations between the two promoters and MSG Lac Mirabel Quebec SEC (Morgan Stanley Group and Sheldon Gordon Group), owner of the land, a 14 million square feet area. These two seasoned entrepreneurs were able to demonstrate that a residential portion would maximize the development of the area, providing unparalleled quality of life for future residents. A beautiful park with water games will be integrated into the project to enhance family life. Furthermore, a protected area of ΓÇïΓÇïmore than three million square feet has been renovated to preserve and protect the environment and natural resources, at a cost of $ 2.5 million dollars.

"We are very proud that La Cité de Mirabel will represent significant economic benefits for the region," said Ray Junior Courtemanche, Co-developer of the project. "Our perseverance and unique vision of the project allowed us to win the confidence of the foreign investors" says Courtemanche.

"La Cité de Mirabel comes to life thanks to the support of all our partners and collaborators, convinced by multiple approaches, including a few Montreal - New York trips to discuss in person with some of them," said Daniel Proulx, owner of La Cité de Mirabel. These efforts will have allowed us to put in place the much needed infrastructure to create, from scratch, La Cité de Mirabel.

La Cité de Mirabel's project, in round figures:

- More than 2000 homes built in an area of over 2.2 million square feet, on "Premium Outlets'" future site;

"This important project will bring significant visibility for Mirabel. The promoters of La Cité de Mirabel saw a great potential for residential development at the interchange of Highway 15 and exit 28. We applaud their vision and are convinced of the viability of the project. The experience and expertise in developing construction projects of these two entrepreneurs are no longer to prove ; they immediately gained the confidence of all stakeholders involved in the process, "says Hubert Meilleur Mayor of Mirabel.

About La Cité de Mirabel

Ray Junior Courtemanche, of Investissements Ray Junior inc. and Daniel Proulx, of Investissements Au Pied Carré inc., have joined forces to found La Cité de Mirabel, the largest residential real estate project west of the Laurentian Autoroute in Mirabel, where the future "Premium Outlet Center" will be located. Sharing the same passion and vision for real estate development, these two Quebec entrepreneurs have created a unique concept for urban clientele on the North Shore of Montreal.

Ray Junior Courtemanche, in business since the age of 17, has completed more than $ 70 million worth of real estate projects. Today, as one of the three shareholders of Construction Danam Bonzaï, this contractor has built various prestigious homes in Blainville-sur-le-Lac, Fontainebleau and Lorraine, as well as luxury housing projects in Laval, condos in Lanaudière and triplexes in St-Augustin, Mirabel. More recently, through Ray Junior Investment, he added several commercial buildings to his credit, as well as the future state-of-the-art development "La Cité des Affaires du Boisé de l'Équerre" on Boul. Dagenais in Laval.

Daniel Proulx, from Investissements Au Pied Carré inc., joined La Cité de Mirabel's project without hesitation, bringing the knowledge and expertise he acquired over the last 20 years. Acting in residential construction since the age of 18, he continued his passion by investing in real estate development in Quebec, including participating in acquiring more than 500 lots in the areas of Terrebonne, Blainville, Laval and the Laurentians. Always on the lookout for new sites of interest, Daniel Proulx crossed the borders of Quebec and invested in western Canada. His vision, business sense and perseverance will allow La Cité de Mirabel's project to reach the required scope for its expansion.